Amwaj International records net profit down 29% to SAR 15 mln in H1 2022

Amwaj International records net profit down 29% to SAR 15 mln in H1 2022

07/09/2022 Argaam Exclusive

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Amwaj International Co. reported to a 29% drop in H1 2022 net profit after Zakat and tax to SAR 15 million, from SAR 21.1 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 165.43 166.22 0.5 %
Gross Income 36.18 29.70 (17.9 %)
Operating Income 26.24 17.91 (31.7 %)
Net Income 21.08 15.03 (28.7 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 3.51 2.50 (28.7 %)

The company cited higher cost of sales amid increased provisions for customer discounts and higher agent’s sales commissions. It also reported higher general and administrative expenses (G&A) on a rise in staff costs due to annual increments and new appointments in vacancies.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 165.43 166.22 0.5 %
Gross Income 36.18 29.70 (17.9 %)
Operating Income 26.24 17.91 (31.7 %)
Net Income 21.08 15.03 (28.7 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 3.51 2.50 (28.7 %)

Shareholders’ equity, after minority interest, rose to SAR 108.140 million as of June 30, 2022, from SAR 93.112 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 165.43 - 36.18 - 26.24 -
H2 2021 105.13 - 21.69 - 9.65 -
H1 2022 166.22 0.5 % 29.70 (17.9 %) 17.91 (31.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 21.08 - 3.51 - 21.08 3.51
H2 2021 7.18 - 1.20 - 7.18 1.20
H1 2022 15.03 (28.7 %) 2.50 - 15.03 2.50

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 21.39 % 14.58 % 10.45 %
H1 2022 18.94 % 11.53 % 8.18 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 6.00 - - 17.68
H2 2021 6.00 4.71 4.71 15.52
H1 2022 6.00 3.70 3.70 18.02

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 20.02 20.02 4.11


Financial Ratios
Current
Market Cap (M Riyal) 299.70
Enterprise Value (EV) (M) 479.51
Shares Outstanding ((M)) 6.00
Book Value (BV) ( Riyal) 21.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.78
Price/book 2.31
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Share Price

Amwaj International Co.
49.95
2.00 4.17 %

Amwaj International Co. (AMWAJ INTERNATIONAL)

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